Financial Performance - Revenue decreased by 1.6% to approximately RMB 1,061,082,000 (2023: RMB 1,078,659,000) [3] - Gross profit decreased by 3.6% to approximately RMB 270,446,000 (2023: RMB 280,665,000) [3] - Profit before tax increased by 1.7% to approximately RMB 95,519,000 (2023: RMB 93,886,000) [4] - Net profit increased by 20.9% to approximately RMB 74,466,000 (2023: RMB 61,594,000) [4] - Basic earnings per share increased by 12.1% to approximately RMB 7.22 (2023: RMB 6.44) [4] - Total comprehensive income for the year amounted to RMB 74,639,000 (2023: RMB 47,633,000) [5] Cash and Assets - Cash and cash equivalents increased to RMB 235,299,000 (2023: RMB 173,678,000) [6] - Non-current assets increased to RMB 807,800,000 (2023: RMB 749,034,000) [6] - Total equity increased to RMB 705,532,000 (2023: RMB 699,352,000) [7] Revenue Breakdown - Revenue from pharmaceutical products was RMB 749,692 thousand in 2024, compared to RMB 735,018 thousand in 2023, showing an increase of about 2.3% [20] - The total revenue from the pharmaceutical sector in China reached RMB 7,157 billion in 2024, with a year-on-year growth rate of 3.1% [39] - The sales revenue from the pharmaceutical distribution segment reached approximately RMB 749.69 million, representing a year-on-year growth of 2.0% [46] Expenses and Costs - The company incurred financing costs of RMB 13,282 thousand in 2024, up from RMB 11,519 thousand in 2023, representing an increase of approximately 15.3% [24] - Employee costs, including salaries and benefits, were RMB 132,850 thousand in 2024, slightly down from RMB 133,118 thousand in 2023 [24] - The company reported a foreign exchange loss of RMB 10,187 thousand in 2024, compared to a loss of RMB 4,966 thousand in 2023, indicating a significant increase in losses [22] Dividends - The board proposed a final dividend of HKD 0.0317 per share (2023: HKD 0.0338) [3] - The proposed final dividend for the year ended December 31, 2024, is HKD 0.0317 per share, compared to HKD 0.0338 per share in 2023, reflecting a decrease of approximately 6.2% [37] Market and Product Development - The company plans to launch the key product, Foci Jinhuo An Gong Niu Huang Wan, in November 2024, targeting chronic disease markets [48] - The company is focusing on optimizing its product structure and marketing strategies to adapt to market demands and consumer preferences [49] - The company expanded its coverage to 264,953 retail outlets, including 209,831 chain pharmacies, enhancing its market presence [50] Marketing and Consumer Engagement - The company activated its WeChat public account "Jin Huo Health Home" to enhance consumer brand awareness, focusing on product education and search engine optimization [51] - The company trained over 400 store managers in cities like Zhengzhou and Suzhou, enhancing their marketing skills and product knowledge to drive sales growth [52] - The company launched 25 offline experience events in 12 key cities, including Xiamen and Shanghai, to engage female consumers and boost product awareness [59] Corporate Governance and Compliance - The board of directors is committed to maintaining high standards of corporate governance and has adopted measures to enhance internal control systems and ongoing professional training for directors [141] - The audit committee confirmed that the accounting policies and financial statements prepared for the performance announcement comply with current accounting standards and listing rules [145] Strategic Initiatives - The company aims to enhance international cooperation and expand into South America and Africa as part of its globalization strategy [119] - The group plans to optimize its product matrix and improve sales strategies to drive revenue growth, focusing on high-growth potential products [122] - The group is committed to a "five-five strategy" to balance existing business growth with breakthroughs in emerging markets [122]
金活医药集团(01110) - 2024 - 年度业绩